October 21, 2021
In celebration of International Credit Union Day and this year’s theme, “Building financial health for a brighter tomorrow,” Maui County Federal Credit Union announced today that it has entered a partnership with Zogo, a leading financial technology company. The Zogo app is now available to individuals throughout Maui County at no cost at both the Apple App Store and Google Play Store.
The Zogo app, developed by a group of Duke University students, guides teens through 300+ bite-sized financial educational modules. Zogo's content meets the national standards for financial literacy. As users successfully answer questions, they will accumulate points that they can redeem for gift cards (and other rewards).
84% of teens say they look to their parents for information about money, according to a study by Junior Achievement. However, parents often feel unprepared to play this role. In a survey by EVERFI, only 43% of parents felt they were "well prepared" for money conversations. As an alternative, T. Rowe Price reports that 3 out of 4 parents think financial apps are a good way to teach about financial matters.
"Our members told us financial education isn’t something kids are consistently learning in school," said Gary Fukuroku, Maui County Federal Credit Union CEO/President. "We loved that Zogo combines a digital approach with insights from Duke University behavioral scientists to actually engage the future generation."
"Growing up, we didn't have good experiences learning about personal finance," added Bolun Li, CEO and co-founder of Zogo. "With Zogo, we wanted to create a financial education experience our peers would actually use. We are excited to partner with Maui County Federal Credit union to bring this vision to life."